When the regulator knocks, will you be ready? - Nabarro

“Many regulators have a broad armoury of powers to search premises and
take away documents. In some cases, it is a criminal offence to fail to cooperate
with an investigation. Companies are therefore well advised to develop
proper internal procedures to ensure that staff are aware of their rights and
obligations in these situations.”
Cyrus Mehta, EU/Competition Partner
5
Who within your business has
primary responsibility for managing
reputational risks posed by
regulators
70%
60%
50%
40%
30%
67%
20%
10%
The main
board
16%
10%
Head of
legal
Dedicated
board director
4% 2% 1%
CEO
Managing
director
Other
6
Do you have internal procedures for
regulatory crisis management
90%
80%
70%
86%
60%
50%
40%
30%
20%
10%
9%
5%
Yes No Don’t know
Whilst many of the companies we surveyed did not have training
programmes in place, the vast majority – 86% – do have policies set up to
deal with regulatory crisis management. The management responsibilities
for dealing with the reputational risks inherent in dealings with the regulator
generally sit at board level, which is a reflection of the importance attached
to such matters.